Stop the tax cuts arms race: Bandt

In response to Treasurer Joe Hockey’s remarks today that rich people should be taxed less, Greens Treasury spokesperson Adam Bandt MP said the measure would make the revenue crisis worse. Mr Bandt called on Labor not to join the Treasurer in making the next Federal Election a tax cuts arms race.

“The Treasurer is out today again calling for tax cuts for rich people. He has said that high income earners in Australia need to be taxed less because apparently they have the potential of going to other countries to earn an income so we need to tax them less here,” Mr Bandt said.

“Let’s think about the logic of the Treasurer’s argument. Joe Hockey is saying if you’re wealthy enough to jump on a plane and get a job in another country then you should pay less tax, but if the only way you can earn an income is here in Australia you should pay more through an increased GST.”

“At the very time that we have a revenue crisis in this country, the Treasurer is out talking about ways of the government bringing in less money, which would lead to cuts to services.”

“Instead of talking about tax cuts, the Treasurer should be looking at ending unfair tax breaks, like negative gearing and capital gains tax exemptions that could bring in an extra $13 billion, which would go a long way to funding schools and hospitals.”

“The Treasurer’s push to make wealthy people pay less and the rest of Australia pay more will increase inequality.”

“I urge the Labor Party not to get sucked into this. Labor must not match Joe’s Hockey rhetoric. Let’s not turn the next election into a tax cuts arms race.”

“If we do, there will be less money available to fund hospitals, doctors and schools and we’ll have more and more pushes to make the rest of the country pay more through GP fees or a higher GST.”

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